Buyers circling Gatwick
21.04.08
Bankers have held talks with potential buyers of London's Gatwick and Stansted airports before a UK competition watchdog report, which is expected tomorrow and could lead to a break-up of airport operator BAA, the Mail reports. The Mirror suggests that it will be Gatwick that BAA is ordered to sell.
BAA owns and operates seven of Britain's biggest airports, including the 3 biggest around London - Heathrow, Gatwick and Stansted - the 3 biggest in Scotland - Aberdeen, Edinburgh and Glasgow - plus Southampton Airport. A report due tomorrow from the Competition Commission is expected to support an Office of Fair Trading recommendation for a full investigation in to its UK airport ownership, which could ultimately recommend that it sell at least one London airport, although not any time soon.
The Mail, citing no sources, says that investment bankers have held talks with unnamed interested parties from India and the Middle East as well as Singapore state investor Temasek. The Mirror adds 'senior Government sources' believe the Commission is ‘virtually certain’ to order BAA to sell a London airport, quoting 'experts' saying the most likely outcome would be to make it sell Gatwick.
A 'well-placed source' told the Mirror: ‘Recent events at Heathrow have pretty much sealed the fate of BAA. It is hard to defend its monopoly when it has meant so much chaos and frustration for passengers.’ A spokesman for BAA declined to comment on the reports.
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